CH 4 Entrepreneurship

Corporate social responsibility refers to

actions that further some social good beyond the interests of the firm.

The first of five steps for entering the international marketplace is

conducting research.

Key elements in plans to create a sustainable future are likely to include which of the following?

eliminating the concept of "conservation"

Ecopreneurship is a combination of ecologically and economically sustainable development.

false

International alliances rarely require the exchange of proprietary knowledge.

false

Social responsibility consists of those obligations that society has to businesses.

false

Successful global start-ups, or entrepreneurial businesses that are "born global," surprisingly often lack internationally experienced management.

false

The triple bottom line is an accounting framework that focuses on optimizing short-term financial performance.

false

Bottom-line measures of economic performance include all of the following except:

global competition

An L3C is a new legal form for social enterprises known as

low-profit, limited liability companies.

Which of the following designations is not synonymous with social entrepreneur?

social impersonator

The most pro-active position for a corporation to take in regard to social responsibility would be termed

social responsiveness

Licensing agreements can involve patents, trademarks, and technical know-how.

true

Ecopreneurs are concerned

only with economically sustainable development.

If we accept the argument that social entrepreneurship is a continuum, at one extreme would be social entrepreneurs driven exclusively by producing social benefits; at the other, would be

social entrepreneurs motivated by profitability with social benefits being the means.

One researcher established a framework that classified social actions of corporations into distinct categories that included social responsiveness and ________?

social obligation

Among the advantages for global entrepreneurs of diaspora networks is

the speed with which information flows across borders.

Methods for going international include all of the following except: a. licensing. b. importing. c. exporting. d. foreign reclamation.

foreign reclamation.

Examples of social enterprise obligations to the environment include all of the following except

support for minority-own businesses.

The three Ps of the triple bottom line are people, planet, and profits.

true

Which of the following statements about social entrepreneurship is not true?

Social entrepreneurship is limited to the world of not-for-profit corporations.

When entrepreneurs decide to go global, they must take a number of steps—for example, hiring people to help them out, entering into agreements with overseas partners, and putting together a plan for conducting the venture. The following are ten groups or terms with which the entrepreneur should be familiar. Match each of these groups or terms with its correct definition or description.

1. The first step taken to go international is CONDUCT RESEARCH. 2. LICENSING is a business arrangement in which the manufacturer of a product gives permission to some group or individual to manufacture the product in return for specified royalties or other payments. 3. Relationships among ethnic groups that share cultural and social norms are DISPORA NETWORKS. 4. NAFTA is an international agreement among Canada, Mexico, and the United States that eliminates trade barriers. 5. OPIC can cover three types of risk: currency inconvertibility insurance, expropriation insurance, and political environment insurance. 6. Foreign governments sometimes grant tax incentives for DIRECT FOREIGN INVESTMENT. 7. Informal, formal, or joint collaborations are INTERNATIONAL ALLIANCES. 8. A JOINT VENTURE is a company owned by two or more organizations. 9. POLITICAL RISK includes unstable government, war, regionalism, and ideological differences. 10. WTO is the umbrella organization governing the international trading system.

An account framework that goes beyond the traditional measures of profit, return on investment, and shareholder value to include environmental and social dimensions is called

the triple bottom line.

Purpose, accountability, and transparency are characteristics associated with socially sustainable enterprises.

true

Social entrepreneurs are known to combine resources to exploit opportunities to create social value.

true

Social obligation, social responsibility, and social responsiveness are all ways firms view their interactions with society.

true